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REGISTERED NUMBER: 01845643 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

TFI Lodestar Limited

TFI Lodestar Limited (Registered number: 01845643)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TFI Lodestar Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr K M Kumar
Mr P Watton
Mr J Worsley





SECRETARY: Mr K M Kumar





REGISTERED OFFICE: 24 Patcham Terrace
Battersea Exchange
London
SW8 4EY





REGISTERED NUMBER: 01845643 (England and Wales)





ACCOUNTANTS: Simply Accountants Ltd
54 Hundred Acres Lane
Amersham
Buckinghamshire
HP7 9BX

TFI Lodestar Limited (Registered number: 01845643)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 240,462 247,698

CURRENT ASSETS
Stocks 566,237 903,750
Debtors 5 1,465,253 2,348,740
Cash at bank 3,035,705 1,860,467
5,067,195 5,112,957
CREDITORS
Amounts falling due within one year 6 4,748,706 4,794,250
NET CURRENT ASSETS 318,489 318,707
TOTAL ASSETS LESS CURRENT
LIABILITIES

558,951

566,405

CREDITORS
Amounts falling due after more than one
year

7

-

(237,500

)

PROVISIONS FOR LIABILITIES (24,702 ) (19,996 )
NET ASSETS 534,249 308,909

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Profit and loss account 504,249 278,909
SHAREHOLDERS' FUNDS 534,249 308,909

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

TFI Lodestar Limited (Registered number: 01845643)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 March 2024 and were signed on its behalf by:




Mr K M Kumar - Director Mr P Watton - Director




Mr J Worsley - Director


TFI Lodestar Limited (Registered number: 01845643)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

TFI Lodestar Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Work-in-progress
Work in progress is valued at cost, which includes outlays incurred on behalf of clients and an appropriate proportion of directly attributable costs and overheads on incomplete assignments. Provision is made for irrecoverable costs where appropriate.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

TFI Lodestar Limited (Registered number: 01845643)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2022 - 25 ) .

TFI Lodestar Limited (Registered number: 01845643)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 225,161 7,996 2,058 31,116 266,331
Additions - 540 - 31,797 32,337
Disposals - - - (3,937 ) (3,937 )
At 31 December 2023 225,161 8,536 2,058 58,976 294,731
DEPRECIATION
At 1 January 2023 9,763 841 139 7,890 18,633
Charge for year 22,516 2,082 514 14,461 39,573
Eliminated on disposal - - - (3,937 ) (3,937 )
At 31 December 2023 32,279 2,923 653 18,414 54,269
NET BOOK VALUE
At 31 December 2023 192,882 5,613 1,405 40,562 240,462
At 31 December 2022 215,398 7,155 1,919 23,226 247,698

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 951,754 1,296,753
Amounts owed by group undertakings 15,142 15,744
Other debtors 498,357 1,036,243
1,465,253 2,348,740

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 2,100,196 2,759,115
Amounts owed to group undertakings - 1,100
Taxation and social security 759,545 37,365
Other creditors 1,888,965 1,996,670
4,748,706 4,794,250

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans - 237,500

TFI Lodestar Limited (Registered number: 01845643)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 96,000 96,000
Between one and five years 384,000 384,000
In more than five years 288,000 384,000
768,000 864,000

9. RELATED PARTY DISCLOSURES

The company paid £102,000 (£108,000 in the prior year) in rent to Xafinity Pension Trustees Limited, a pension trustees of a Self-Invested Personal Pension (SIPP) in which all of the company's directors have a material interest. The rent is for the use of a property owned by SIPP that is leased to the company. The rent is at market rates.